TON raises 8-figure sum from MEXC to make Telegram a Web3 super-app
Telegram founder Pavel Durov has repeatedly pointed out the role of the TON blockchain in the potential Web3 journey of Telegram. The Open Network (TON), a decentralized blockchain platform originally designed by Telegram, has secured major funding from the venture arm of the cryptocurrency exchange MEXC. TON has raised an eight -figure investment from MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange MEXC, the firm announced on Oct. 4. In conjunction with funding, MEXC and the TON Foundation have entered into a strategic partnership aiming to promote global Web3 accessibility by lowering the barriers of entry. As part of the deal, MEXC crypto exchange will provide marketing services and promotion for the TON-based projects listed on their platform. The firm is also set to launch a TON collateral lending service and eliminate trading fees for the TON token. "The previous cost was the same for most cryptocurrencies on their exchange," TON Foundation’s dire...